Carpenter Technology Co. (NYSE:CRS) Shares Sold by American Trust

American Trust lowered its position in shares of Carpenter Technology Co. (NYSE:CRS – Get Rating) by 19.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,525 shares of the basic materials company’s stock after selling 1,796 shares during the period. American Trust’s holdings in Carpenter Technology were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $451,000. Balyasny Asset Management LLC purchased a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $9,766,000. BNP Paribas Arbitrage SNC boosted its position in shares of Carpenter Technology by 47.2% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 25,478 shares of the basic materials company’s stock worth $793,000 after purchasing an additional 8,166 shares during the period. Summit Global Investments boosted its position in shares of Carpenter Technology by 67.1% during the 3rd quarter. Summit Global Investments now owns 14,200 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 5,700 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Carpenter Technology by 6.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,557,766 shares of the basic materials company’s stock worth $48,509,000 after purchasing an additional 90,007 shares during the period. Institutional investors and hedge funds own 92.28% of the company’s stock.

Insider Activity

In other news, CAO Elizabeth A. Socci sold 5,722 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $50.56, for a total value of $289,304.32. Following the sale, the chief accounting officer now directly owns 11,755 shares in the company, valued at approximately $594,332.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CRS shares. Cowen increased their price objective on shares of Carpenter Technology from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. StockNews.com initiated coverage on shares of Carpenter Technology in a research report on Thursday. They set a “hold” rating for the company.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $38.39 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.52 and a debt-to-equity ratio of 0.52. Carpenter Technology Co. has a 52 week low of $24.76 and a 52 week high of $52.50. The stock has a market capitalization of $1.86 billion, a PE ratio of -319.89 and a beta of 1.79. The firm has a 50 day moving average of $47.08 and a two-hundred day moving average of $40.60.

Carpenter Technology (NYSE:CRS – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The basic materials company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Carpenter Technology had a negative net margin of 0.26% and a negative return on equity of 0.78%. The company had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $525.67 million. During the same quarter last year, the company posted ($0.58) EPS. The firm’s revenue was up 46.2% compared to the same quarter last year. On average, research analysts predict that Carpenter Technology Co. will post 1.05 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Tuesday, January 31st were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, January 30th. This represents a $0.80 annualized dividend and a yield of 2.08%. Carpenter Technology’s dividend payout ratio is presently -666.61%.

Carpenter Technology Company Profile

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Carpenter Technology Corp. engages in the manufacturing, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments. The Specialty Alloys Operations segment is composed of its major premium alloy and stainless-steel manufacturing operations.